WEST VIRGINIA CODE

WVC 7 - 12 - 9 B
§7-12-9b. Joint development entities.
(a) The Legislature hereby finds and declares that the
citizens of this state would benefit from coordinated economic
development efforts and that to encourage cooperation and
coordination, county governing bodies, municipal governing bodies
and county and municipal development authorities should be
authorized to organize and jointly own all of the partnership,
ownership and membership interests in a partnership, corporation or
limited liability company for the sole purpose of undertaking
jointly through their joint ownership of or membership in the
partnership, corporation or limited liability company any project
or projects that an authority established pursuant to this article
would be permitted to undertake.

(b) Any combination of two or more county governing bodies,
municipal governing bodies, municipal development authorities or
county development authorities may jointly form and hold all of the
partnership, ownership or membership interests in a partnership,
corporation or limited liability company, the sole purpose of which
is to develop and own one or more joint economic development
projects (for purposes of this section, a "joint development
entity"). No person or entity other than a county governing body,
municipal governing body, municipal development authority or county
development authority may own any ownership or membership interest
in a joint development entity. Any existing partnership,
corporation or limited liability company is a joint development
entity on and after the effective date of this section if: (i) It
was organized for the purposes described in this subsection prior to the effective date of this section; and (ii) the partnership,
ownership or membership interests in it meet the requirements of
this subsection on and after the effective date of this section.

(c) To the extent consistent with and not prohibited by or in
conflict with the restrictions and limitations on, or the rights
and attributes of, a joint development entity set forth in this
section, the applicable general law governing partnerships,
corporations or limited liability companies govern the
organization, existence, duration, powers, governance and
dissolution of a joint development entity and the rights and
responsibilities of the partners, owners or members of a joint
development entity.

(d) A joint development entity is a public corporation and a
political subdivision and instrumentality of its partners, owners
or members and has the powers, rights and privileges of an
authority set forth in sections seven, eight, nine, ten, eleven,
twelve and fourteen of this article in addition to those granted to
partnerships, corporations and limited liability companies under
applicable general law.

(e) For West Virginia tax purposes, a joint development entity
is a political subdivision of the State of West Virginia and is
exempt from all state and local taxation and all real and personal
property owned by a joint development entity, or which the joint
development entity may acquire to be leased, sold or otherwise
disposed of, is exempt from taxation by the state or any county,
municipality or other levying body as public property.

Note: WV Code updated with legislation passed through the 2016 Regular Session
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